Cost of diesel continues alarming climb, oil dips

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3/21/2005

Truckers continued to feel the pinch at the pump Monday,
March 21, as diesel fuel prices continued to climb. It is the fifth straight week the national average price of diesel has
been above $2 a gallon; fuel is now running about 22 cents higher per gallon
than in mid-February.

According to
ProMiles, the state of Washington had the highest statewide average for retail
diesel prices Monday at $2.65 per gallon. Oklahoma had the cheapest diesel with
a price of $2.10.

The national average price-per-gallon
for diesel increased a nickel Monday to $2.244, the U.S. Department of
Energy reported.

The highest average prices in the nation are found in the
California region, where the average cost is $2.482 – up more than 6 cents from
a week ago.

Among the higher average prices were in the West Coast
region, at $2.471; the Central Atlantic region, at $2.358; the New England
region, at $2.355; and the Rocky Mountain region, at $2.313.

Other prices included the East Coast region, at $2.245; the
Midwest region, at $2.196; the Lower Atlantic region, at $2.186; and the Gulf
Coast region, at $2.180.

On Friday, March 18,
the market’s crude oil prices closed at $56.72 a barrel, marking the sixth
straight week prices had surged. Crude prices set an all-time high of
$57.60 a day earlier.

Silliere told The AP because there is plenty of oil
on the market, consumers should expect to see crude prices fall from current
levels.

In hopes of soothing markets, OPEC made a decision March 16
to produce more oil.

The cartel, which produces nearly 40
percent of the world’s oil, agreed to immediately widen the spigot to pump an
extra half-million barrels of oil a day and to approve a similar boost later if
prices do not come down.